GENERAL LIABILITY
Business owners get sued every day. Unfortunately, this ugly side of doing business can be a harsh reality. A judgement could bankrupt your business. Commercial General Liability (CGL) insurance provides protection for your business. Under this form of insruance, the insurance carrier will pay all sums the insured becomes legally obligated to pay pertaining to a covered occurrence. The company will cover any claim or judgment up to the applicable limits of the policy purchased.
Here are a few terms that are important in CGL Coverage:
General Aggregate: A limit in an insurance policy stipulating the most it will pay for all covered losses sustained during a specific period of time, usually one year.
Products & Completed Operations: Liability arising out of the insured's products or business operations conducted away from the insured's premises once those operations have been completed or abandoned.
Personal & Advertising Injury: Covers offenses that result in monetary damages, such as slander and libel. Covers offenses that result in monetary damages, such as slander and libel.
Each Occurrence: The amount paid per accident, including continuous or repeated exposure to conditions, which results in bodily injury or property damage neither expected nor intended from the standpoint of the insured.
Policy Limit: A limit in an insurance policy stipulating the most it will pay for all covered losses sustained during a specific period of time, usually one year. Liability arising out of the insured's products or business operations conducted away from the insured's premises once those operations have been completed or abandoned. Covers offenses that result in monetary damages, such as slander and libel. The amount paid per accident, including continuous or repeated exposure to conditions, which results in bodily injury or property damage neither expected nor intended from the standpoint of the insured.
Products & Completed Operations: Liability arising out of the insured's products or business operations conducted away from the insured's premises once those operations have been completed or abandoned.
Personal & Advertising Injury: Covers offenses that result in monetary damages, such as slander and libel. Covers offenses that result in monetary damages, such as slander and libel.
Each Occurrence: The amount paid per accident, including continuous or repeated exposure to conditions, which results in bodily injury or property damage neither expected nor intended from the standpoint of the insured.
Policy Limit: A limit in an insurance policy stipulating the most it will pay for all covered losses sustained during a specific period of time, usually one year. Liability arising out of the insured's products or business operations conducted away from the insured's premises once those operations have been completed or abandoned. Covers offenses that result in monetary damages, such as slander and libel. The amount paid per accident, including continuous or repeated exposure to conditions, which results in bodily injury or property damage neither expected nor intended from the standpoint of the insured.
What Factors Determine Price?
- Annual Gross Sales
- Annual Payroll
- Limits of Insurance
- Type of Business
- Previous Claims History
Business Insurance Group | Affordable Health Plans
3445 North Causeway Blvd. Suite 605 Metairie, LA 70002
Phone: (504) 837-0110 Fax: (504) 828-9395 Email: info@businessinsgroup.com
3445 North Causeway Blvd. Suite 605 Metairie, LA 70002
Phone: (504) 837-0110 Fax: (504) 828-9395 Email: info@businessinsgroup.com
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